The Globe and Mail reports in its Tuesday edition BCE is shaking up its in-house pension fund manager Bimcor Inc. The Globe's Jacqueline Nelson writes Michael Boychuk, chief executive officer of Bimcor, is preparing to leave the company in June. With his departure, Bimcor is outsourcing some investment management responsibilities to improve efficiency and reduce costs. Bimcor, which has more than $19-billion in assets, is being folded into BCE's internal treasury and finance department in Montreal. The Toronto fixed-income office has been closed, and a group of under 10 professionals working there was let go. Investment management responsibilities have been turned over to Royal Bank of Canada's Phillips Hager & North unit. This is the latest step in Bimcor's move toward external portfolio management, which began five years ago when new money managers were sought for most of the fund's Canadian and U.S. equity and fixed-income investments. Mr. Boychuk has worked for BCE since 1997. His exit comes alongside other changes within BCE's finance department. Retiring chief financial officer Siim Vanaselja is being succeeded by Glen LeBlanc, former CFO of Bell Aliant, at the end of June.